Why to choose the insurance
for contractual warranty?
Discover the main coverage
Coverage of risks from non-execution / improper execution of contractual obligations
Loss coverage caused to beneficiaries that you cannot cover at the payment date
Smaller total costs
An insurance suitbale for your business
Want to notify a claim?
In contrast, warranties issued by banks are always counter-guaranteed with collateral deposits, material guarantees, assignment of receivables or are included in the lending facilities of the requesting company, which means blocked money. Also, all the blocked money are the warranties constituted in the form of deductions from the value of the executed works. The insurance for contractual warranties is a viable alternative to warranties constituted by blocking money or blocking material counter-guarantees (pledges / mortgages) that could be used to obtain additional sources of financing.
The alternative to bank warranties, Allianz - Tiriac insurance for contractual warranties is equivalent to bank payment commitments. Therefore, the issuance of warranties is made following an analysis equivalent to the analysis of credit risk (analysis of the economic and financial situation of the applicant company, the conditions of execution of the basic contract for which the guarantee is requested and the counter-guarantees proposed to be established in favor Allianz - Tiriac), in conditions of minimal risks.
If the risk analysis shows that the conditions for issuing the requested warranty/warranties are met, the price and counter-guarantee conditions will be negotiated. The applicable premium rates vary depending on the type of warranty, the warranty period, the solvency / creditworthiness of the guaranteed client, the business risk and the type / size / quality of the counter-guarantees (collateral guarantees constituted by the client).